August Marketing Update - Benowa Waters

JOHN COLE Keeping you up to date with the latest listings, market news and Real Estate advice

Market Update Forecasts for the Gold Coast property market is steady, with healthy gains to house values predicted for the next few years. The Gold Coast property market is changing and with the election now over this has increased certainty in the market and we have seen higher confidence in Buyers who are now actively looking / wanting to buy. In addition the recent APRA easing of lending restrictions for financial institutions allowing Buyers requiring Finance to re-enter the market. Despite an unsteady start to the year, there is a noticeable positive shift and market improvement.

Market Observations: We have recorded an increase of 20% to groups through our open homes, a change from the period prior to June There are more active Buyers attending our open homes and following the market. Especially $800,000 to low $1m price range Properties priced fairly and meeting the market are selling. This has changed from periods last year and early this year where appropriately priced properties were remaining on the market due to the lack of Buyers with the ability to meet borrowing requirements Buyers expectations on the presentation of properties on the market have changed. Videos of properties, floorplans, and exceptional photography are a must. If the property is near new or renovated professional staging is expected to best present the property. The days of expecting Buyers to imagine the layout of the home with empty rooms or overly cluttered with furniture have passed

Price Bracket Observations: Apartments sub $500,000 are moving quickly from Main Beach to Broadbeach Properties under $1m: are in the highest demand and moving quickly with days on market falling There is a high demand for entry level waterfront homes in central suburbs such as Benowa Waters, Sorrento and Isle of Capri.

Properties $1.5m - $2m: Moving slowly due to increase value expectations from fussy Buyers. $3m+ properties: There have been a number of high-end sales across the Gold Coast however in our opinion many of these sales have been below “perceived market value.” With Buyers securing exceptional value.

Financial observations: Borrowing requirements remain tight however the serviceability for borrowing has reduced from 7.25% to 5.5% meaning majority of buyers are now able to borrow additional funds.

The emergence of tier 2 lenders with less restrictive borrowing requirements such as AFM with lending capacities of $100m a month and backed by major banks and competitive rates are increasing traction

Did you know: 'Number one on Australia's population winners' list is the Gold Coast.

Like any large metropolitan area, the housing on the Gold Coast varies in terms of price but there’s one thing for sure and that’s the fact that you get a lot for your money, especially when compared to other Australian cities.

Local News Little Bandits Coffee has already found its way into the morning ritual for many of the city’s worker bees who make the daily commute along Upton Street and it certainly has with the team here at Lucy Cole Prestige Properties. Quick meals to grab and go, acai bowls, smoothies, juices and don't forget your daily coffee pick me up, get your morning off to a great start by stopping in to see Michael, Gareth & Broadie at Little Bandits (located in the Bundall Circle next to the Chemist & Autobarn) For the month of August, mention John Cole when purchasing any size coffee and receive a complimentary cookie to enjoy!

What's On in August p

Recent Sales Contact me for sale prices

21 Edinburgh Rd

1 Braemer Court

3 Roger Court

56 Charolais Crescent

1/81 Edinburgh Rd

54 Charolais Crescent

12 Fullerton Street

2/81 Edinburgh Rd

113 Sir Bruce Small Blvd

2 Braemer Court

20 Edinburgh Rd

23 Sir Bruce Small Blvd

Sale of the Month 92/32 'Anchorage' Riverview Prd, Surfers Paradise

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John has done an outstanding job - I engaged Lucy Cole agents after having trouble with another agent.

I had trusted John to sell my property and achieve the highest price and the communication between Braemer Court the2agent and myself was second to none. John kept me up to date with every open home inspection 2 Braemer Court and the open homes had alot of interest in my opinion this is due to Lucy Cole's marketing strategies. All in all I had a great experience with this agent and I could not be happier with the way everything fell into place. I would highly recommend Lucy Cole agents if thinking of selling your property - J. Milson

Selling your home and selecting an agent is often one of the most important financial decisions you may make, and a successful sale requires a successful plan... which is why you require the right agent.

I understand what it means to provide exceptional service and not simply operate as a salesman pushing real estate. I bring buyers and sellers successfully together in a trusting environment resulting in satisfied clients who comfortably refer my services and our business to their family, friends & professional network If you or someone you know have considered selling, please feel free to contact me today.

John Cole 0412 671 620 john@lucycole.com.au

John Cole 0412 671 620 www.lucycole.com.au